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Monthly Archives: October 2015

Razoo Launches Charitable Crowdfunding Campaign for Veterans Day

#DayForTheBrave will benefit hundreds of veteran-focused nonprofits across America, giving back to those who have given so much to our nation.

SAN FRANCISCO, Oct. 1, 2015 (GLOBE NEWSWIRE) — Razoo, the leading crowdfunding platform for charitable giving, today announced the launch of a new movement to give back to those who have given so much for the United States: our nation’s 22 million veterans. On Veterans Day, November 11, Razoo will host #DayForTheBrave, the nation’s first online Giving Event to exclusively raise funds and awareness for charities serving the needs of veterans, servicemembers, and their families.

Hosted at DayForTheBrave.org, the campaign will provide a digital platform for hundreds of the nation’s leading veteran-focused nonprofits to engage donors and compete for prizes. #DayForTheBrave is an opportunity for America to rally around veterans beyond giving thanks on Veterans Day, by supporting the very organizations that are committed to their care.

“We’re hugely inspired by the work our nonprofit partners on Razoo are doing every day,” said Tom Matthews, CEO. “For those organizations serving veterans in particular, there’s a universal respect for their efforts and the people they serve. We wanted to energize that spirit, and honor these dedicated men and women who advance these organizations’ missions. Leveraging our industry-leading Giving Event platform to host #DayForTheBrave is our way of giving back and supporting our veterans.”

During the #DayForTheBrave event, participating organizations will not only fundraise from the public, but also compete for major prizes based on their crowdfunding success throughout the day. The Razoo Foundation has seeded $25,000 in grants to the #DayForTheBrave prize pool, which will continue to grow as additional corporations and foundations join the movement as key partners. Together with individual donors, these partnerships will contribute to even greater impact for the veteran community.

“All businesses know how critical the missions of organizations working to empower veterans are,” said Matthews. “We hope that this donation by the Razoo Foundation serves to inspire other companies to sponsor #DayForTheBrave so that we can amplify the impact of Americans’ individual giving on Veterans Day.”

Learn more about #DayForTheBrave by visiting DayForTheBrave.org. Join the social media conversation about this campaign by following @DayForTheBrave on Twitter, Day For The Brave on Facebook, and by using the official #DayForTheBrave social media hashtag.

About Razoo

Razoo is crowdfunding that matters, powering small acts of giving that together change the world. Since 2006, individuals and groups have used Razoo.com to create more than 150,000 fundraising websites and donate over $450 million to the causes that matter to them. Razoo is the industry innovator of online Giving Events – fundraising competitions that build a spirit of generosity in entire communities, from small towns to worldwide networks. Nonprofits use Razoo to acquire new supporters while empowering their networks to build online fundraising capacity. Razoo has offices in San Francisco and Washington, D.C. and is seed funded by the Legatum Group. See how we’re creating a new generation of everyday philanthropists at razoo.com. Follow us on Twitter at @Razoo, and like us on Facebook at Razoo Giving.

OnDeck and AEO to Facilitate Up To $10 Million In Loans To Small Businesses

29 September 2015 – OnDeck (ONDK), a leading platform for small business lending, today announced an expansion of its partnership with the Association for Enterprise Opportunity (AEO).

OnDeck is licensing its proprietary technology platform to AEO’s community lending partners who participate in the Association’s TILT Forward Initiative. The Initiative improves access to capital for small business owners and entrepreneurs in underserved communities. OnDeck expects this phase, which will increase the number of participating CDFIs, to facilitate up to $10 million in loans to small businesses across the country.

“OnDeck’s mission is to provide responsible credit solutions for the complete range of small business needs, and high impact private-nonprofit partnerships such as this are crucial to supporting a financial system that works for all Main Street businesses,” said James Hobson, chief operating officer, OnDeck. “When our community-oriented lenders and initiatives have seamless access to leading technology and fair and transparent credit products, that’s when positive change takes place.”

TILT Forward equips community development financial institutions (CDFIs) and community and nonprofit lenders with innovative loan products and technologies that serve critical small business needs. OnDeck’s platform helps these lenders efficiently identify small businesses that have been underserved by traditional sources but meet the requirements of CDFIs. In doing so, OnDeck is extending its leading data analytics and loan process automation to participating mission-focused lenders across the United States. Both OnDeck and AEO plan to have 10 CDFIs participating in the program by early 2016, with DreamFund, an AEO subsidiary, serving as an innovative capital provider that can help scale the Initiative and attract participation from banks, philanthropists and individuals committed to investment in underserved communities.

Tammy Halevy, senior vice president of new initiatives at AEO, said, “This partnership has been vital to small businesses underserved by banks and traditional lenders, as well as to the community impact of participating CDFIs. By expanding the availability of affordable and appropriately tailored financing for small businesses, the TILT Forward Initiative will accelerate small business growth in underserved communities fueling job creation, reducing unemployment, and stabilizing local communities. With OnDeck’s support, CDFIs are able to efficiently serve more small businesses in their communities and focus resources on providing critical technical assistance and guidance.”

The partnership between OnDeck and AEO has originated approximately $1.5 million in loans to date with participation from four CDFIs. OnDeck has waived its fees for AEO’s community lending partners to help build and scale the solution for the Association’s national member and partner network.

“The bank wasn’t comfortable loaning me money,” said Michael Temm, owner of Wedding Wonderland Cake Shop located outside of St. Louis, MO. “They wanted collateral, but I thought that my business sales would be enough. I don’t remember anything being hard about getting this TILT Forward loan. And then once I was approved, I had the money directly deposited in my account within I think two or three days. It was amazing.”

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